Transit ridership will likely remain below pre-pandemic levels through 2024, according to analysts.
The public transit sector continues to struggle as federal emergency funding runs out and ridership in many systems remains low, reports Brett Rowland in The Daily Record.“Ridership was at 77% of pre-pandemic levels with significant variances between U.S. regions and modes of transit,” according to Rowland.
According to a report from S&P Global Ratings, “Heavy regional commuter rail-only systems still face lower ridership due to remote work trends while bus and subway systems serving cities and metropolitan areas have performed better.” The report adds, “We still expect public transit ridership will recover to only about 85% of pre-pandemic levels by 2026 under our base case and 80% under our downside case.”
Overall, transit agencies must contend with lower fare revenue and find new, sustainable funding sources. “Identifying such a model to meet operating and long-term capital needs remains an ongoing topic of debate, setting up key decisions in the coming months that will pit service levels against available resources for 2024 and beyond.”
FULL STORY: Outlook for public mass transit remains dim
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